Business Workshops for Artists
GST/HST Taxable & Exempt Supplies
Free Online Workshop
Wednesday, March 20, 2024
1:00 -2:00 pm (NL) | Free
Do you know which revenues attract GST/HST? Are you aware of when you might not have to charge and collect tax?
If you would like to learn more about these issues join us for the second presentation in our CRA workshop series. You will hear directly from a Canada Revenue Agency representative who has 30+ years of experience working in CRA’s GST/HST programs.
Learning Objectives:
Understand the concept of “subject to tax”
Learn about which revenues are GST/HST taxable
Recognize when you do not have to collect tax
Help reduce mistakes and errors
Topics Include:
Definitions
Taxable Supplies
Exempt Supplies
Real Property and other Capital Properties
Reference Materials
Who will benefit:
This is the Second GST/HST Presentation in our special 5-part Series with Michael Monk from the CRA. Each Presentation is designed to deliver specific information that you will need, as you progress through each subsequent Presentation in the entire Series. The Presentation is designed for those operating on a For-Profit basis and is intended for those who work both as a sole proprietorship or for those who might be a partner or owner of an incorporated business. You will review in depth which revenue sources are taxable and which are not. And we will review Real Property taxability issues. We will lay the necessary foundational learning here in this Second Presentation, to help you be best prepared for the subsequent GST/HST Presentations in the Series.
About the series
Part 1
Introduction to GST/HST
Wednesday, January 31
1:00-2:15 PM
Part 2
Taxable vs. Exempt Supplies
Wednesday, March 20
1:00-2:00 PM
Part 3
Place of Supply & Correct Rates of Tax
Wednesday, May 8
1:00-2:00 PM
Part 4
Input Tax Credits (ITCs)
Wednesday, September 18
1:00-2:00 PM
Part 5
GST/HST Audits & Examinations
Wednesday, November 20
1:00-2:00 PM
As an artist or a creative entrepreneur, you likely have lots of questions about taxes: Do you need to collect them? How do you report them? What items can you claim or not claim?
Register for this special workshop series with the Canada Revenue Agency and have all your questions answered!
You’ve asked, we’ve delivered. We’re thrilled to have Michael Monk of the CRA lead this in-depth, 5-part series, which will tackle everything artists and creative entrepreneurs need to know about GST and HST, including:
When to charge and collect tax
Which revenues are taxable
What’s reasonable to claim
Correct rates of tax
Potential mistakes and risks
What Input Tax Credits (ITCs) are and how to claim them
How to prepare for a GST/HST audit
And so much more!
Part of running a professional (and successful) business is making sure you’re handling your taxes correctly. Even if you’re not collecting HST right now, there may come a point when you need to in the future. Make sure you’re prepared! Michael Monk has been with the CRA for over three decades, working extensively with GST/HST. This is an excellent opportunity to hear straight from the source.
Whether you’re a business owner or responsible for an arts organization’s record keeping and tax filings, this series of workshops will provide you with the most reliable, up-to-date information.
While the first session will offer an introduction to GST/HST and lay the groundwork for what’s to come, each subsequent session builds on the one before it. As such, we highly recommend participants attend all five sessions to get the most out of this series.
Presenters’ Bio:
Michael Monk has been an employee of the Canada Revenue Agency (CRA) for 33 years. During that time, he has worked extensively with GST/HST. Michael’s current role in CRA’s Ottawa Headquarters is with the GST/HST and Digital Compliance Directorate where he has managed CRA’s National GST/HST Presentations and Outreach services for the last 7 years.
Michael was a Team Leader and Senior Technical Interpretations Analyst for 10+ years in GST/HST Rulings, Legislative Policy and Regulatory Affairs Branch. He spent numerous additional years in other GST/HST roles within the Compliance Programs Branch. Michael also worked as a CRA Facilitator for ten years creating and instructing GST/HST Legislation and Audit courses for CRA staff.
He has many years of experience, working with a multitude of GST/HST issues, across several sectors. He has participated in conferences, preparing and delivering GST/HST presentations to a variety of accounting and industry associations. Michael has volunteered with many community and school association groups over the years. He has served as Director on the Board of a large national charity, and also on CRA’s Employee Assistance Program Committee.